Utah Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: Yes

-  Primary Security Instrument: Deed of Trust, Mortgage

-  Timeline: Varies

-  Right of Redemption: Yes

-  Deficiency Judgments Allowed: Yes

In Utah, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

The judicial foreclosure process is one in which the lender must file a complaint against the borrower and obtain a decree of sale from a court having jurisdiction in the county where the property is located before foreclosure proceedings can begin. Generally, if the court finds the borrower in default, they will give them a set period of time to pay the delinquent amount, plus costs. If the borrower does not pay within the set period of time, the court will then order the property to be sold in the manner of normal execution sales.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

1. A notice of sale must be published once a week for three (3) consecutive weeks in a newspaper of general circulation in the county where the property is to be sold. The last publication must be at least ten (10) days but not more than thirty (30) days before the date of sale is scheduled.
    
2. The notice of sale must also be posted, at least twenty (20) days before the date of sale is scheduled, in some conspicuous place on the property to be sold and at the office of the county recorder of each county in which the property is located.
    
3. The place of sale must be clearly advertised in the notice of sale and the sale must be held between the hours of 8 am and 5 pm.
    
4. Borrowers do have a right of redemption in Utah, but the court may extend the redemption time past the time allowed in regular judgments so there is no set length of time.

It is possible to obtain a deficiency judgment against the borrower for the difference between the amount the borrower owed on the original loan and the foreclosure sale price and the lender may be able to seize the property until the differing amount is paid.

Texas Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: Yes

-  Primary Security Instruments: Deed of Trust, Mortgage

-  Timeline: Typically 60 days

-  Right of Redemption: No

-  Deficiency Judgments Allowed: Yes

In Texas, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.

Judicial Foreclosure

The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, the property will be auctioned off to the highest bidder.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

1. Prior to proceeding with a foreclosure, Texas laws state that the lender must mail the borrower a letter of demand, informing the buyer he has twenty (20) days to pay the delinquent payments or foreclosure proceedings will begin.
    
2. At some point after the borrowers twenty (20) days have expired, but at least twenty one (21) days before the foreclosure sale, a foreclosure notice must be: 1) filed with the county clerk; 2) mailed to the borrower at their last known address; and 3) posted on the county courthouse door.
    
3. The foreclosure sale must take place on the first Tuesday of any month, even if said Tuesday falls on a legal holiday, but only after the proper preliminary notices have been given. The sale is on the courthouse steps by auction to the highest bidder for cash. Anyone may bid, including the lender, who bids by canceling out the balance due on the note, or some part of it.

Lenders may obtain deficiency judgments, but they are limited to the difference between the fair market value of the property at the time of sale and the balance of the loan in default.

Tennessee Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: Yes

-  Primary Security Instruments: Deed of Trust, Mortgage

-  Timeline: Typically 60 days

-  Right of Redemption: Yes

-  Deficiency Judgments Allowed: Yes

In Tennessee, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure

process.

Judicial Foreclosure

The judicial foreclosure process is one in which the lender must file a complaint against the borrower and obtain a decree of sale from a court having jurisdiction in the county where the property is located before foreclosure proceedings can begin. Generally, if the court finds the borrower in default, they will give them a set period of time to pay the delinquent amount, plus costs. If the borrower does not pay within the set period of time, the court will then order the property to be sold.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

1. A notice of sale must be published at least three (3) different times in a newspaper published in the county where the sale is to be made, with the first publication appearing at least twenty (20) days prior to the sale.
    
2. Unless otherwise ordered, if no newspaper is published in said county, the notice of sale must be posted at least thirty (30) days in advance of the sale in at least five (5) public places within the county. At least one of these notices must be placed at the courthouse door and another in the neighborhood of the property itself.
    
3. A notice of sale must also be served upon the borrower at least twenty (20) days prior to the date of sale if the borrower is in possession of the property.
    
4. The sale must be held between the hours of 10:00 am and 4:00 pm for cash to the highest bidder. The sheriff of each county in the state of Tennessee may set a minimum acceptable price for the property as long as the price is equal to or greater than fifty percent (50%) of the fair market value.
    
5. The successful bidder at the foreclosure sale will receive a certificate of sale and may be entitled to receive a deed once the borrowers right of redemption has expired.

Deficiency judgments are allowed in Tennessee and the borrower has a period of two (2) years to redeem the property, unless their right of redemption was waived in the original deed of trust.

South Dakota Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: Yes

-  Primary Security Instruments: Deed of Trust, Mortgage

-  Timeline: Typically 90 days

-  Right of Redemption: Varies

-  Deficiency Judgments Allowed: Varies

In South Dakota, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.

Judicial Foreclosure

The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, your home will be auctioned off to the highest bidder.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

1. A foreclosure notice must be published once a week for four successive weeks in a newspaper of general circulation in the county where the premises are located.
    
2. At least twenty-one days prior to the date set for sale, the lender must serve a written copy of the notice of foreclosure sale on the borrower and any lien holder whose interest in the property being foreclosed would be affected by the foreclosure.
    
3. Said notice must contain the names of the borrower and lender, the mortgage date, the amount due, a description of the premises and the time and place of sale.
    
4. The sale must be made by the sheriff of such county, or his deputy, between the hours of 9:00 am and 5:00 pm to the highest bidder. Any person including the mortgagee (lender) may bid at the sale. The winning bidder will receive a certificate of sale.
    
5. The sale may be postponed, from time to time, by inserting a notice of such postponement, as soon as possible, in the newspaper in which the original advertisement was published, and continuing such publication until the time when the postponed sale occurs.

If the property is 40 acres or less, and the mortgage contains a power of sale clause, then a 180-day period of redemption exists. If the property is abandoned, the time period is reduced to 60 days. Generally, unless special short-term redemption mortgage provisions apply, borrowers may redeem within one year of the date of sale.

South Carolina Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: No

-  Primary Security Instrument: Mortgage

-  Timeline: Varies

-  Right of Redemption: No

-  Deficiency Judgments Allowed: Yes

In South Carolina, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

The judicial foreclosure process is one in which the lender must file a complaint against the borrower and obtain a decree of sale from a court having jurisdiction in the county where the property is located before foreclosure proceedings can begin. Generally, if the court finds the borrower in default, they will give them a set period of time to pay the delinquent amount, plus costs. If the borrower does not pay within the set period of time, the court will then order the property to be sold.

In South Carolina, the property is generally sold in the following manner:

1. A notice of sale, containing a description of the property, the time and place of sale, the borrowers name and the lenders name, must be published at the courthouse door and two other public places at least three weeks prior to the date of sale. The notice must also be published in a newspaper of general circulation within the county where the property resides for the same time period.
    
2. Unless otherwise ordered by the court, the sale must be conducted at the courthouse where the property is located by the sheriff of said county. The sale must be held on the first Monday in each month, unless it is a holiday and then the sale may take place on the following Tuesday. The sale may begin at 11:00 am and go until 5:00 pm, but the sheriff may close the bidding prior to that time.
    
3. Despite the fact that the bidding at the public sale has ended, in South Carolina, the auction actually stays open for a full thirty days after the date of the public sale. During this thirty day time period, anyone may place a bid higher than the last bid amount and the successful purchaser will be the one with the highest bid at the end of the thirty days. This ongoing bid process is referred to as upset bidding. Anyone, other than the successful purchaser, who has placed a bid during this time, will be entitled to a refund of any deposit made in good faith and he or she will have no further interest in the property.
    
4. If no objection to the sale price of the property has been filed with the sheriff’s office within three months after the date of sale, the sale will be considered confirmed and the sheriff will make any necessary deed endorsements.

Lenders in South Carolina may file for a deficiency judgment against the borrower and borrowers have no rights of redemption.

Rhode Island Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: Yes

-  Primary Security Instruments: Deed of Trust, Mortgage

-  Timeline: Typically 60 days

-  Right of Redemption: Varies by Process

-  Deficiency Judgments Allowed: Yes

In Rhode Island, lenders may foreclose on deeds of trusts or mortgages in default: 1) by using the judicial foreclosure process; 2) by filing a lawsuit seeking eviction; 3) by taking possession of the house; 4) by the borrower voluntarily giving up possession; or 5) by using the non-judicial foreclosure process.

Judicial Foreclosure

The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, your home will be auctioned off to the highest bidder.

Special Procedures

In instances where the lender takes possession of the house, they must do so peaceably and in the presence of two witnesses. Said witnesses must give a certificate of possession, which must then be notarized. Additionally, borrowers who voluntarily give up possession of the property must do so in the presence of a notary. In these instances, the lender will obtain the full title to the property if they are able to maintain possession for an established period of time.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

1. The lender must mail a written notice of the time and place of sale, by certified mail, return receipt requested, to the borrower at his or her last known address, at least twenty (20) days prior to the first publication, including the day of mailing in the computation.
2. The lender must give notice of the sale by publication in some public newspaper at least once a week for three (3) successive weeks before the sale, with the first publication of the notice being at least twenty-one (21) days before the day of sale, including the day of the first publication in the computation.
3. Said notice must contain the names of the borrower and lender, the mortgage date, the amount due, a description of the premises and the time and place of sale.

Any person may bid at the sale, including the lender.

Pennsylvania Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: No

-  Primary Security Instrument: Mortgage

-  Timeline: Typically 90 days

-  Right of Redemption: No

-  Deficiency Judgments Allowed: Yes

In Pennsylvania, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

In Pennsylvania, the lender must send a notice of intent to foreclose to the borrower before any foreclosure proceedings may begin.

The notice of intent must be sent, by first class mail, to the borrower, at their last known address and if different, to the property secured by the mortgage. The notice should not be sent until the borrower is at least sixty (60) days behind in their mortgage payments.

In the notice, the lender must make the borrower aware that his or her mortgage is in default and that it is their (the lender’s) intention to accelerate the mortgage payments if the borrower does not cure the default within thirty (30) days. This means that the remaining balance of the original mortgage will come due immediately.

If the borrower does not cure the default by paying the past due amount, plus any late charges that have accrued, within the thirty (30) days, the lender may then file a suit to try and obtain a court order to foreclose on the property.

If the court finds in favor of the lender and issues an order of sale, the property will be sold at a Sheriff’s sale under the guidelines established by the court. The borrower has the right to cure the default and prevent the sale at any time up to one hour before the Sheriff’s foreclosure sale.

Lenders have up to six months after the foreclosure sale to file for a deficiency judgment. Borrowers have no rights of redemption once the foreclosure sale is complete.

Oregon Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: Yes

-  Primary Security Instruments: Deed of Trust, Mortgage

-  Timeline: Typically 180 days

-  Right of Redemption: Yes

-  Deficiency Judgments Allowed: Yes

In Oregon, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.

Judicial Foreclosure

The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, your home will be auctioned off to the highest bidder.

In this type of foreclosure, the borrower may redeem the property by paying the purchase price, with interest, the foreclosure costs and the purchaser’s expenses in operating and maintaining the property within 180 days after the date of sale. The borrower must file a notice no less than two (2) days and not more than thirty (30) with the sheriff to redeem.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

1. A notice of default must be recorded in the county where the property is located and the borrower and/or occupant of the property must be served with a copy of the notice at least 120 days before the scheduled foreclosure sale date.
    
2. A copy of the notice must be published once a week for four (4) successive weeks, with the last notice being published at least twenty (20) days prior to the foreclosure sale.
    
3. Said notice must contain a property description, recording information on the trust deed, a description of the default, the sum owing on the loan, the lender’s election to sell and the date, time and place of sale.
    
4. The borrower may cure the default at any time prior to foreclosure by paying all past due amounts, plus costs.
    
5. The sale must be at auction to the highest bidder for cash. Any person, except the trustee, may bid at the sale, which take place between 9:00 am and 4:00 pm at the location stated in the notice of record.
    
6. The sale may be postponed for up to 180 days from the original sale date if at least twenty (20) days advance notice is given, by mail, to the original recipients of the notice.

A deficiency judgment cannot be obtained through a non-judicial foreclosure, but may be pursued when other foreclosure methods are used.

Oklahoma Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: Yes

-  Primary Security Instruments: Deed of Trust, Mortgage

-  Timeline: Typically 90 days

-  Right of Redemption: None

-  Deficiency Judgments Allowed: Varies

In Oklahoma, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure

process.

Judicial Foreclosure

The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, your home will be auctioned off to the highest bidder.

However, unless the borrower waives the right to an appraisal in the mortgage, the property must be appraised before it can be sold at foreclosure. At the foreclosure sale, the property may not be sold for less than two-thirds of the appraised value.

A lender may sue to obtain a deficiency judgment, but the action must be taken within ninety (90) days after the date of sale. There can be no redemption once the court confirms the foreclosure sale.

Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A “power of sale” clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the “Power of Sale Foreclosure Guidelines”.

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

A written notice of intention to foreclose by power of sale must be sent by certified mail to the borrower at the borrower’s last known address. The notice must describe the defaults of the borrower under the loan, and give the borrower thirty five (35) days from the date the notice is sent to cure the problem. If the borrower cures the default within the thirty five (35) days, then the foreclosure can be stopped. However, if there have been three (3) defaults, then the lender need not send another notice of intent to foreclose, and if the borrower has been in default four (4) times in the past twenty four (24) months, and has been notified as above, then no further notice will be required.

1. The notice must be recorded in the county where the property is located within ten (10) days after the borrower has gone through the thirty five (35) day notice period.
    
2. The notice must appear in a newspaper in the county where the property is located once a day for four (4) consecutive weeks, with the first publishing being not less than thirty (30) days before the sale.
    
3. Said notice must state the names of the borrower and lender, describe the property (including the street address) and state the time and place of sale.
    
4. The property must be sold at public auction to the highest bidder at the time and on the date specified in the notice. If the highest bidder at the sale is anyone other than the borrower, they must post cash or certified funds equal to ten (10) percent of the bid amount. If the highest bidder is unable to do so, then the lender may proceed with the sale and accept the next highest bid.

Ohio Foreclosure Laws

-  Judicial Foreclosure Available: Yes

-  Non-Judicial Foreclosure Available: No

-  Primary Security Instrument: Mortgage

-  Timeline: Typically 150 days

-  Right of Redemption: Yes

-  Deficiency Judgments Allowed: Yes

In Ohio, lenders may foreclose on a mortgage in default by using the judicial foreclosure process.

Judicial Foreclosure

Generally, in judicial foreclosure, a court decrees the amount of the borrowers debt and gives him or her a short time to pay. If the borrower fails to pay within that time, the clerk of the court then advertises the property for sale.

At some point prior to the scheduled date of foreclosure, an appraisal of the property must be made by three disinterested freeholders of the county. A copy of the appraised value must be filed with the court clerk and the property must be offered for sale at a price of not less than two-thirds of said value.

The sale may not take place until the notice of sale has been published once a week for three (3) consecutive weeks in a

newspaper of general circulation in the county in which the property is located. The sheriff will conduct the sale at the courthouse and the property will be sold to the highest bidder.

Lender’s may obtain a deficiency judgment and the borrower may redeem the property at any time before the court confirms the foreclosure sale by paying the amount of the judgment, plus costs and interest.